On Apr.18, 2017, CanSino Biologics Inc. of Tianjin, China, announced that it completed another round of financing and raised $65 Million (US) from several renowned private investors.
This round of financing was led by Future Industry Investment Fund (FIIF), a private equity (PE) fund managed by SDIC Fund Management Corp. Ltd., a subsidiary of State Development & Investment Corp., one of the largest investment holding companies in China. Other investors included Gopher Asset, Fortune Capital and Goldstone Investment. CanSino’s existing investors including Lilly Asia Venture and QiMing Venture Partners etc., also participated in the latest round.
CanSino is aiming to provide solutions for infectious-diseases prevention globally. The company focuses on the development of high quality vaccines for children and adults. Its robust product pipeline includes four novel vaccine candidates against Ebola, TB, Cervical Cancer and Pneumococcal infection, and new combo vaccines against Meningitis, Pertussis, Tetanus, Diphtheria, Hib etc.
CanSino currently has four products in clinical trial phase I to III conducted in North America, Africa and China respectively; three IND submissions pending for clinical approval from CFDA. Several vaccine R&D projects have received recognition and grants from the National Science and Technology Major Projects Foundation (NSTMPF).
CanSino will use the funds to commercialize late stage vaccines currently in development including a new vaccine manufacturing campus in Tianjin. The state-of-the-art facility is designed and constructed in line with the regulatory requirements of China, EU and WHO GMP regulations. The facility will be ready for commercial manufacturing in 2018 with full annual capacity of 100 million doses.
The funds raised will also be used to accelerate the development of new vaccine candidates, to support clinical studies, to set up information management systems, and to speed the market launch of products.
Mr. LV Dazhong, Managing Director of SDIC said: "SDIC Fund focuses on investing in advanced manufacturing technologies. Our mission is to promote the transformation of Chinese industries. Through comprehensive due diligence, CanSino team has demonstrated impressive achievements and strong pipeline. We believe this company will make significant contributions to public health locally and globally, and will become a leading biopharmaceutical company in China. "
Dr. YU Xuefeng, Chairman and CEO of CanSino, who has more than 20 years experiences in vaccine industry, commented, “Since we established this company eight years ago, the Chinese business environment including regulatory policies, government support and capital investment has become more favorable to the biopharmaceutical industry. During this period, CanSino has been fortunate to attract a large number of pharmaceutical professionals who bring rich industry experience to the company. It is due to the great team efforts that we have been able to make significant progress from R&D to commercialization. This round of financing will allow CanSino to further advance its pipeline and build its commercialization capacity. We appreciate that CanSino’s achievements and potential are recognized by well-known investors. We are delighted to welcome our new investors and thank our existing investors for their continue support.”
About CanSino Biologics Inc.
Founded in 2009, CanSino Biologics Inc. is dedicated to developing and commercializing high quality human vaccines. The company’s founders and key management team members are overseas returnees from the world’s leading vaccine companies and experts from the Chinese vaccine industry. CanSino has established a robust vaccine pipeline, and is one of the leading vaccine companies in China.
About SDIC Fund
SDIC Fund Management Corp. Ltd., a subsidiary of State Development & Investment Corp., the largest state-owned investment holding company in China. SDIC’s AUM has surpassed RMB50 billion, which as funded from state-owned, private and insurance capital.
About Gopher Asset
Gopher Asset Management Co, Ltd (Gopher Asset), was established in March 2010 as a subsidiary of Noah Holdings Limited (NOAH: NYSE), the largest independent wealth management company in China. Gopher Asset is committed to be a leading alternative asset manager with a focus on Private Equity Investment, Real Estate Fund Investment, Secondary Market Investment, Family Office and Discretionary Account Investment and Institutional Services. As of the 2016Q4, Gopher’s total AUM has surpassed US$ 18 billion.
About Fortune Capital
Fortune Capital, established in April, 2000, is one of the earliest market-oriented venture capital firms in China. Fortune Capital manages 18 funds with total amount of US$2.8 billion. Fortune Capital focus its investments on leading companies in four key sectors: TMT (Media oriented), Consumer Goods/Services, Healthcare and Clean Tech. Basing on its professionalism and good performance, Fortune Capital is now ranked among one of the highest performing VC/PE firms in China